If you’re looking to buy and sell cryptocurrencies in the UK you will need to choose a top crypto exchange with low fees. Coinbase is a top-rated crypto exchange that is likely to be on your radar. But is there a Coinbase alternative that provides fast trade executions, more security and cheaper fees?
In this useful guide, we’ll cover the best Coinbase alternatives in the UK for 2021, helping you start gaining exposure to the volatile crypto market right now.
#1 Coinbase Alternative – eToro
Coinbase Alternatives UK 2021
Are there any cheaper alternatives to Coinbase? What are the best crypto exchanges for beginners to start trading Bitcoin and other altcoins right now? If you’re asking these questions then you’ve come to the right place. Let’s dive straight into it and reveal the Coinbase alternatives that made it onto our recommended list.
- eToro – Overall Best Coinbase Alternative UK (FCA Regulated)
- Binance – Best Coinbase Alternative UK with High Liquidity Levels
- CoinJar – One of the Best Alternatives to Coinbase for Beginner Traders
- Kraken – Top-Rated Coinbase Alternative UK for Crypto Futures Trading
- CoinCorner – Trusted Alternative to Coinbase With Low Fees
Best Coinbase Alternative UK Reviewed
Most crypto traders are looking for Coinbase alternatives because the exchange has above-average fees. For example, if you want to use your debit card to deposit funds you’ll incur a 3.99% charge. Additionally, Coinbase charges a fee when you buy and sell or convert cryptos, as well as the market spread.
However, this doesn’t mean that you should pick a crypto trading platform based on how cheap it is. You should pay close attention to key metrics related to regulations, supported cryptocurrencies and payment methods.
1. eToro – Overall Best Coinbase Alternative UK for Copy Trading
eToro is a leading copy trading platform that offers a diverse asset portfolio from stocks and ETFs to cryptocurrencies, forex and CFDs. Since its launch in
2006, this Israeli fintech company has grown exponentially, boasting a client base of over 20 million. You can currently buy and sell 30 of the most popular cryptocurrencies ranging from Bitcoin (BTC) and Ethereum (ETH) to Ripple (XRP), Cardano, and Litecoin (LTC).
When you buy cryptos on eToro you gain ownership of the underlying assets. This means that you can store them on the eToro Money Crypto Wallet. This hot wallet supports Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and XLM. On the other hand, cryptos stored on the eToro trading platform are typically held in offline cold storage.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
eToro fees and account types
The only trading fees charged by eToro are the tight market spreads. For example, if you buy Bitcoin on eToro you’ll be required to pay a spread of just 0.75%. While there are no deposit or account fees, there is a $5 withdrawal fee and a $10 inactivity fee after 12 months of no login activity. In terms of account types, eToro offers either a live trading account or a demo account. To deposit funds you can use a wide range of payment methods from debit and credit cards, to bank transfers and popular e-wallets like PayPal, Skrill and Neteller.
Is eToro safe?
eToro is one of the most trusted Coinbase alternatives out there. It is authorized and regulated by the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). With negative balance protection and FSCS protection you will be covered up to £85,000 should the broker go into insolvency. This does not apply to cryptocurrency trades as the FCA has banned the sale of crypto-derivatives to retail clients in the UK.
| Fee Type | Charge |
| Crypto Trading | 0% Commission + tight spreads |
| Cost of buying BTC | Typical spread of 0.75% |
| Account fee | None |
| Deposit fee | None |
| Withdrawal fee | $5 |
| Inactivity fee | $10 after 12 months |
Pros
- Buy and Sell cryptos on a spread-only basis
- Invest in cryptos with as little as $25
- Home to over 20 million traders worldwide
- Fully regulated by FCA, CySEC and ASIC
- No deposit fees
Cons
- USD is the only supported account base currency
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
2. Binance – Best Coinbase Alternative UK with High Liquidity Levels
If you’re looking to HODL or buy and hold cryptocurrencies over the long term in hopes of capitalizing on market appreciation, then eToro is arguably your
best bet. However, if you’re searching for Coinbase alternatives to use short-term trading strategies such as day trading or scalping, Binance is a great option.
Established in 2017, Binance is a cryptocurrency exchange that facilitates the buying and selling of digital assets with the click of a button. This popular alternative to Coinbase is a leading exchange in terms of daily trading volumes and liquidity. The crypto platform is home to heaps of supported cryptocurrencies ranging from large-cap to small-cap tokens and coins.
Binance boasts the largest 24-hour trading volumes across the board. In fact, according to CoinMarketCap.com, Binance had a 24h trading volume of $136 billion in trades. In addition to traditional crypto exchange services, Binance has a broad portfolio of other popular products. Leveraged crypto derivatives like Bitcoin options and futures are just some of the financial instruments that you can access on the Binance platform. Furthermore, Binance offers peer-to-peer (P2P) services, as well as a savings account enabling you to earn interest on crypto holdings.
Binance fees and payments
Turning our attention to the fees, Binance has a reputation for its cost-effective commission model. Starting at just 0.1% per side, you can reduce this small commission even further by trading larger volumes of cryptos and holding its utility token referred to as Binance Coin (BNB). When it comes to payments, depending on where you’re located, you could deposit funds using a debit or credit card, or bank transfer.
Is Binance safe?
This Coinbase alternative UK is not regulated by any financial authority and is currently under investigation by the United States Department of Justice and Internal Revenue Service. Furthermore, in June of this year the UK’s Financial Conduct Authority moved to ban Binance from operating in Britain. While Binance can continue to offer its services to UK traders, as a crypto exchange it is not authorized to operate in the United Kingdom.
Having said this, Binance has not been found guilty of breaching any anti-money laundering regulations. It also requires users to go through the KYC (know your customer) process when trading over 2 BTC worth of cryptos in a single day. So, while it is a popular Coinbase alternative, there are underlying risks that you need to be aware of before investing your money in digital assets on the platform.
Pros
- Access Cryptos with High trading volume and liquidity
- Trade hundreds of crypto pairs
- Market-leading trading commission as low as 0.1% per side
- User-friendly platform with high liquidity levels
- Debit/Credit card, local bank transfer deposits accepted
Cons
- High credit/debit card deposit fee of 2%
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
3. CoinJar – One of the Best Alternatives to Coinbase for Beginner Traders
CoinJar is a great option for beginners with little trading experience looking to participate in the crypto market in a safe and simple way. This crypto
exchange is based in Australia and has become a popular Coinbase alternative in the UK right now.
To get started, just open an account and upload a copy of your driving license or passport as a way of verifying your identity. After that, you can go ahead and trade cryptocurrencies by transferring funds from your UK bank account.
Since the Faster Payments Network facilitates all transactions on this top-rated alternative to Coinbase, funds typically arrive in your CoinJar account within minutes. After your transaction has been processed, you can withdraw your crypto assets to a private hot or cold Bitcoin wallet UK.
CoinJar fees
CoinJar charges a commission per side of 1%. This means that if you purchase £1,000 of Bitcoin you would have to pay £10 in commissions. On the other hand if you trade cryptos on the CoinJar exchange the commission per side is just 0.1%.
However, there are no costs if you deposit funds using a cryptocurrency. There are also no costs if you send money from your UK bank account. Withdrawing funds is likewise fee-free, whether through a bank transfer or digital currency.
Is CoinJar safe?
When you visit a trusted and regulated Coinbase alternative, you can find information about its licenses and regulatory status with the click of a button. With that in mind, our CoinJar review couldn’t find any data on the website itself. All in all, CoinJar is a “registered business” in the UK, but is not regulated by the FCA. In terms of safety, most client funds are held in cold wallets and it also offers two-factor authentication (2FA) for added account security against identity theft.
Pros
- Beginners will appreciate the user-friendly platform and intuitive interface
- Buy, sell and store 30+ crypto assets
- Low-cost maker-taker fees
- £5 minimum deposit
- 90% of client crypto-funds are held in cold wallets.
Cons
- Not suitable for advanced crypto traders
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
4. Kraken – Top-Rated Coinbase Alternative UK that is Heavily Regulated
The next Coinbase alternative on our list is Kraken. Launched in 2013, Kraken is now home to over four million crypto enthusiasts across 170+ countries. You
can buy and sell more than 60 popular cryptos including all large-cap and small-cap coins and tokens.
During our research we found that you can access crypto price data in real-time, trade around 66 crypto pairs and stake out your digital assets to earn interest on what you hold. Kraken supports everything from Bitcoin and Ethereum to Polygon and Uniswap. You can also trade cryptos using a range of fiat currencies including USD, EUR, GBP, JPY, CHF and AUD.
Kraken fees
The following costs apply if you want to buy, trade, or convert Bitcoin or other cryptocurrencies instantly through the web trading platform or Kraken App:
- 0.9% for stablecoins
- 1.5% for other cryptocurrencies or crypto-cross pairs
- Payment card processing fee – 3.75% + €0.25
- Online banking processing fee – 0.5%
Kraken also uses a maker-taker fee structure, with higher trading volumes incurring a lower commission. This Coinbase alternative UK also allows users to trade on cryptocurrency futures contracts with maker fees for a 30-day trading volume of $0-$100,000 starting at 0.02%. There are two methods for depositing funds with Kraken. The first is by using a bank wire transfer, and the second is through crypto deposits. If you choose to deposit using a popular cryptocurrency you will be pleased to learn that there are no deposit fees.
Is Kraken safe?
Kraken complies with legal and regulatory requirements in all jurisdictions in which it operates. This top-rated alternative to Coinbase is registered as a Money Services Business (MSB) and is regulated by the US FinCEN, FINTRAC in Canada, the UK’s Financial Conduct Authority, the Australian Transaction Reports and Analysis Centre (AUSTRAC), and the FSA in Japan.
Pros
- Heavily regulated by multiple financial authorities
- Low minimum deposit of £1
- Low-cost maker-taker fees
- Free deposits when funding account with cryptos
- Access to cryptocurrency derivatives including crypto futures
Cons
- Debit card transactions incur a 3.75% + $0.25 fee
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
5. CoinCorner – Trusted Alternative to Coinbase With Low Fees
If you’re looking to trade and invest in cryptocurrencies from the comfort of your own home, it’s worth considering CoinCorner. This Coinbase alternative
made history in 2014 when it became one of the first exchanges to allow users to purchase BTC using a credit card. CoinCorner supports BTC, ETH, XRP, and LTC. You can also complete your transactions in a matter of minutes, should you opt for a credit or debit card, or e-wallet such as Neteller. Bank transfers are also a supported payment option but the processing time will be somewhat longer.
CoinCorner is a great option if you’re looking to use dollar-cost averaging (DCA) trading strategies. This is because CoinCorner allows you to set up recurring Bitcoin investments. For instance you could set up an automated trading schedule that buys $20 of Bitcoin every week on a Monday at 10 AM GMT.
While CoinCorner is a convenient Coinbase alternative, its fees gravitate towards the expensive side. For example, when you make a deposit you will quickly incur a 2.5% charge on debit card deposits and 3.2% on credit card deposits. Trading commissions are on the above-average side too. For instance, if you buy more than £300 worth of BTC you will incur a 1% commission. Investing anything less than £300 and the commission is even higher.
Is CoinCorner safe?
This Coinbase alternative complies with KYC and anti-money laundering regulations. Having said this we should mention that the crypto exchange platform is not regulated by any financial watchdog and as such users are not protected by the FCA. The company CoinCorner Ltd is a designated business with the Isle of Man Financial Services Authority.
Pros
- User-friendly platform
- Allows you to set up recurring crypto investments
- Fully-fledged crypto wallet app
- Contact customer support via live chat
- Wide range of payment methods
Cons
- Limited range of supported cryptocurrencies
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Coinbase Alternatives Fees Comparison
If you’re looking for a Coinbase alternative, chances are you are looking for a cheaper exchange. As such, let’s take a look at a comparison table to see which one offers the best bang for your buck.
| Broker | Crypto Trading Fee | Debit Card Fee | Bank Transfer Fee |
| eToro | 0% commission + tight market spreads | 0.5% for non-USD deposits | 0.5% for non-USD deposits |
| Binance | From 0.1% | 2% | Free |
| Coinjar | 1% | N/A | Free |
| Kraken | From 0.16% | 3.75% + €0.25. | Free |
| CoinCorner | From 1% | 2.5% | £1 |
As you can see from the convenient comparison table, if you’re interested in buying cryptocurrencies in the UK using a debit or credit card, e-wallet like PayPal, Neteller or Skill, or even a bank transfer – eToro is overall the best Coinbase alternative UK. Other than the market-leading spreads, investing in cryptocurrencies on eToro means you won’t have to pay a penny in commissions.
How to Choose the Best Coinbase Alternative UK
With so many Coinbase alternatives to choose from, you’ll need to establish what your trading needs and goals are to help you choose the best alternative to Coinbase in 2021.
Fees
Perhaps one of the most important metrics, trading and non-trading fees are something you need to be aware of when choosing the right Coinbase alternative to suit your needs. With Coinbase being one of the most costly crypto exchanges out there, here are some of the main fees you need to keep in mind:
- Deposit fees – the majority of UK crypto exchanges offer no deposit fees when using bank transfers. Nevertheless, credit and debit card deposits can be expensive. For example, Coinbase charges a hefty 3.99% debit/credit card deposit fee, while Binance and CoinCorner charge 2% and 2.5% respectively. On the flip side, eToro supports no deposit fees for USD transactions, but there is a small 0.5% conversion fee if you deposit in any other fiat currency.
- Trading commissions – Buying and selling cryptocurrencies online goes hand in hand with commissions and market spreads. While eToro does not charge commissions for cryptocurrency trading it does charge the bid/ask spread which for Bitcoin is typically 0.75%. Coinbase, on the other hand, charges a 1.49% commission per side, meaning that you’ll pay 1.49% when you open a position and again when you close the trade.
Compare and contrast – eToro vs Coinbase
To put things into perspective, let’s compare a £1,000 debit card purchase of Bitcoin on Coinbase and the best alternative to Coinbase UK – eToro.
- With Coinbase, you’ll pay 3.99% to purchase Bitcoin using a debit card.
- Investing £1,000 will therefore incur a fee of £39.90
- Selling your Bitcoin assets on Coinbase would cost you a 1.49% sell order trading fee.
- This 1.49% trading fee translates to £14.90
In total, buying and selling £1,000 worth of BTC on Coinbase would cost you £54.90.
Now let’s do the same with eToro.
- At eToro the only account base currency is USD, meaning that any non-US Dollar deposits incur a conversion fee of 0.5%.
- So, if you deposit 1,000 GBP that’s a conversion fee of £5.
- When you buy Bitcoin on eToro you don’t pay any commission but you do have to pay a typical spread of 0.75%.
- This means that the cost of buying $1,000 of Bitcoin on eToro would cost you just $7.50
Regulation and Safety
When it comes to Coinbase alternatives there are a few crypto exchanges and online brokers that are fully regulated by financial authorities including the FCA such as Kraken and eToro. While Coinbase is regulated by the New York Department of Financial Services (NYDFS) and operates as an independently capitalized entity, Coinbase Trust Company, LLC, you may still want to find an alternative based on fees and what is on offer.
When you open an account with eToro you will be able to rest assured that your funds are protected by top-tier financial institutions. While many traders are flocking to Google for alternatives to Coinbase, it’s worth mentioning that Coinbase is listed on the NASDAQ exchange (NASDAQ: COIN) and at the time of writing has a market cap of $54.46 billion.
Coinbase alternative UK – Payment options
The top Coinbase alternatives offer a wide range of payment options at market-leading costs. Debit cards and e-wallets like PayPal are perhaps the best payment methods to consider as they are typically processed instantly.
Nevertheless, many alternatives to Coinbase UK only support deposits using a bank transfer or with cryptocurrencies. This could be an issue, especially for beginners who perhaps do not have any crypto assets and are looking to get started in the market. With that said, you should check to see what the supported payment methods are, whether there are withdrawal fees and deposit fees.
Coinbase alternative – Supported Cryptocurrencies
With Bitcoin being the largest cryptocurrency on the market most beginners fall into the habit of only focusing their attention on this decentralized digital currency. But with a current market price of $45,722.80, buying one BTC is an investment that most beginners cannot afford. Be that as it may, there are thousands of other cryptocurrencies, referred to as altcoins, that are much cheaper, are built on the Ethereum blockchain, and offer greater scalability and security.
All in all, most market analysts and expert investors recommend that you diversify your crypto portfolio as much as possible to avoid huge potential losses as a result of immense market volatility. Therefore, it’s ideal to choose a Coinbase alternative that provides access to a variety of products and markets.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
For example, eToro offers access to 30 different cryptocurrencies, as well as 63 crypto-to-fiat pairs, and 14 crypto crosses. Furthermore, you can also copy the trades of other expert crypto traders by using eToro’s in-house developed CopyTrader and CopyPortfolio features.
Alternative to Coinbase UK – Crypto Wallet Security and Storage
When you purchase cryptocurrencies online, you are typically given a couple of options in terms of where you can store your digital assets.
- Firstly, you could leave your crypto assets on the exchange until you decide to sell. However, this is not recommended as most crypto exchanges are unregulated and regularly fall victim to hackers.
- Secondly, you could withdraw your digital currencies to a private cold or hot wallet. But crypto wallets can be complicated if you’re completely new to crypto trading.
With crypto storage being a rather complex topic, many new users are reluctant to enter the market. With that in mind, our trusted Coinbase alternative eToro offers an effective solution.
eToro Money crypto wallet
Once you buy your crypto assets you can store them either on the regulated platform or on the eToro Money crypto wallet. This highly secure hot wallet is a user-friendly, multi-crypto wallet that allows you to easily buy, store, receive, and transfer more than 120 digital currencies, as well as change any of more than 500 pairs.
The eToro Money crypto wallet is also available as a mobile app that’s compatible with iOS and Android devices meaning you can download it to your Apple or Android mobile device and manage your cryptocurrencies anywhere, anytime at your convenience. There are also several security features including an unlosable private key, a completely private on-chain address, multi-signature facilities, DDoS protection, and standardisation protocols. According to the eToro website, the eToro Money crypto wallet is also regulated by the Guernsey Financial Services Commission.
Alternatives to Coinbase – Automated Crypto Trading and Investing
Coinbase is more of an execution-only exchange when it comes to automated Bitcoin trading. In other words, you will be required to buy and sell cryptocurrencies on a do-it-yourself basis.
This can be difficult if you have little to no crypto trading experience, as the crypto market is highly speculative and volatile at the best of times. If you’re looking for the best Coinbase alternative you’ll be pleased to learn that most of the ones featured in this guide offer some type of automated crypto trading service.
As we’ve already discussed, eToro offers a crypto CopyPortfolio that is heavily weighted with a range of cryptocurrencies. This means that you’ll be buying a prebuilt diversified portfolio created by an experienced trader on eToro. Furthermore, the eToro team will manage your CopyPortfolio and rebalance it on your behalf based on your risk tolerance and time horizon.
Getting Started with the Best Coinbase Alternative UK
Once you’ve selected your preferred Coinbase alternative, you’ll need to register an account. By opting for our top-rated Coinbase alternative – eToro, you’ll be able to buy Bitcoin and other cryptocurrencies in a matter of minutes from the comfort of your home.
Follow these simple steps to get started with eToro right now.
Step 1: Open a Live Trading Account with eToro
To get the ball rolling, simply head over to the official eToro website and click on ‘Join Now’. As eToro is authorized and regulated by multiple top-tier financial institutions including the UK’s FCA, you will need to enter your name, email address and phone number, as well as choose a username and password for your account.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Once you click on the button marked ‘Create Account’ you’ll have to provide the following details:
- Full Name
- UK Address
- Date of Birth
- UK Mobile Number
- National Insurance Number
- Email Address
eToro will then send you a verification code via SMS to your mobile phone. You’ll need to enter this code to complete the registration process.
Step 2: Upload ID to Verify your Live Trading Account
The KYC process is another regulation that eToro complies with. The Know Your Customer process is designed to combat identity theft and money laundering practices. Simply put, eToro will require you to upload a couple of documents.
These include:
- Proof of identity – This can be in the form of a valid passport or driving licence
- Proof of address – This can be in the form of a recent utility bill or bank statement
Step 3: Deposit Funds
The initial minimum deposit is just $50 and you can invest in cryptocurrencies on eToro with as little as $25. Depositing funds into your account is fully digital and easy as you have many payment methods available at your fingertips. These include debit or credit cards, bank transfers, and e-wallets such as PayPal, Neteller, Skrill, and more.
Step 4: Search for your preferred cryptocurrency
You can either browse through the supported cryptocurrencies on the eToro platform by clicking on the ‘Trade Markets’ tab in the navigation bar. Alternatively, you could search for your preferred crypto by using the search bar at the top of the trading dashboard.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Step 5: Buy cryptos with the click of a button
To buy a particular cryptocurrency simply click on ‘Trade’ next to the relevant result. You will then be presented with an order box like the image below.
From here you can specify your investment amount which has to be a minimum of $25.
Finally, tap on the ‘Open Trade’ button to execute your cryptocurrency trade instantly.
Best Coinbase Alternative – Expert Verdict
Coinbase is one of the most expensive cryptocurrency exchanges out there, with a trading commission of 1.49% to buy and sell cryptos, to a 3.99% fee when depositing funds using a debit card. For this reason, many beginner traders are looking for a Coinbase alternative that keeps fees to a minimum.
As such, this guide has reviewed some of the best Coinbase alternatives to use right now. We recommend eToro as the social trading platform allows you to trade cryptocurrencies with 0% commissions and tight market spreads from just 0.75%. eToro is also regulated by the FCA, CySEC, and ASIC and allows you to use user-friendly copy trading tools to trade cryptos passively with the click of a button.
To get started with a trusted crypto broker right now, click on the link below and open an eToro account today!
eToro – Best Coinbase Alternative UK
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.